AUD/JPY Bears Are in Control if The Price Stays Below Wizz 0 & Camarilla WH3 Confluence

AUD/JPY Bears Are in Control if The Price Stays Below Wizz 0 & Camarilla WH3 Confluence

Dear Traders,

The AUD/JPY has formed a bearish pattern on MTF. We should see a downward move if the price stays below 73.25

The AUD/JPY is supported around 72.50 but the latest RBA move failed to instill bullish impulse in the price. The cut was expected and the RBA cut the rate but the statement was neutral. Technically, the AUD/JPY should reject from 72.80 zone, staying below 73.35. Continuation will happen at the 4h close below 72.50 towards 71.99. Below 71.90, 71.05 is the target.

The analysis has been done with the CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.